McKesson Corporation $MCK Shares Sold by Courier Capital LLC

Courier Capital LLC lowered its stake in McKesson Corporation (NYSE:MCK) by 10.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 875 shares of the company’s stock after selling 100 shares during the period. Courier Capital LLC’s holdings in McKesson were worth $641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its position in McKesson by 54.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company’s stock valued at $3,056,000 after purchasing an additional 1,592 shares in the last quarter. Dynamic Advisor Solutions LLC raised its position in shares of McKesson by 16.6% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company’s stock worth $524,000 after acquiring an additional 111 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of McKesson by 18.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company’s stock worth $15,501,000 after acquiring an additional 3,659 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of McKesson by 22.0% during the 1st quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock worth $254,979,000 after acquiring an additional 68,294 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of McKesson by 4.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company’s stock worth $123,332,000 after acquiring an additional 7,556 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the transaction, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the transaction, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,189 shares of company stock worth $16,722,190 over the last quarter. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MCK shares. JPMorgan Chase & Co. raised their target price on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. Jefferies Financial Group raised their target price on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of McKesson in a research report on Wednesday, October 8th. Finally, Morgan Stanley raised their target price on McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $834.54.

McKesson Stock Up 1.6%

NYSE:MCK opened at $782.07 on Wednesday. The stock’s 50 day moving average price is $710.10 and its 200 day moving average price is $707.89. The company has a market capitalization of $97.27 billion, a PE ratio of 31.18, a P/E/G ratio of 1.39 and a beta of 0.52. McKesson Corporation has a 52-week low of $492.39 and a 52-week high of $783.89.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm had revenue of $97.83 billion for the quarter, compared to analysts’ expectations of $95.93 billion. During the same quarter in the prior year, the business earned $7.88 EPS. The company’s quarterly revenue was up 23.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a $0.82 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date was Tuesday, September 2nd. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is 13.08%.

McKesson Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.